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How the European Retail Sector is Benefitting from Retail Technology

22 August 2016, 17:57 CET

Technology drives so much innovation in all aspects of our daily lives and the retail sector is no different.

Technology drives so much innovation in all aspects of our daily lives and the retail sector is no different. In fact the innovative ideas being put to use in the retail industry are already helping to drive sales and attract new customers in pioneering and inventive new ways, leading to the retail being the fastest growing sector in Europe during 2015, with in the region of €67 billion being invested.

Whether it's a unique way in which to improve a customer's all-round retail experience or simply a way to maximise profits it seems that the industry has its foot planted firmly in the realm of cutting-edge technology.

travel ticket machine

For many of us the overall shopping experience can be a laborious task and a necessary means to an end; retailers are turning to technology to change this by improving the experience overall and the way we interact with retail technology.

Beacons are just one such technology that are slowly creeping into the European market.

Although they have quickly gained traction in the US there adoption to European businesses has been slow.

With Beacons businesses can take advantage of the number of shoppers that own some form of smartphone or mobile device. When customers enter or even pass a store these special Beacons can connect to a device and send details directly to the customer with information discounts, vouchers or even details about a forthcoming sales

We've already seen touchscreen technology from European companies such as Cammax Limited being implemented into many areas of service and retail-based industries which have proved to be very successful.

One of the biggest success stories in the sector is the widespread use of self-checkout kiosks and NFC (near field communication) technology. Now a common sight in high street supermarket chains, these kiosks are perhaps the most widely used development in consumer facing retail technology.

The future looks set for further advances in retail technology as more and more businesses look at developing new ways for customers to securely pay for products, as well as to better target various promotional and marketing concepts.

With improved biometric technologies such as voice identification, facial recognition and even iris scanning being developed, shoppers could find themselves making purchases without the need to even take their wallets or purses with them.

Mobile-based ecommerce is developing at an incredible rate with more businesses ever now trading online. Customers looking to make a purchase often reach for their smartphone, open an app and expect a speedy and convenient experience. The retail industry is very much aware of this noticeable spike in mobile purchases and if they haven't already are keen to develop their services for the wide-reaching mobile market in order to help generate more sales by putting online consumer habits and requirements at the forefront of their business practices.

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